Monday, 14 September 2015

ECI pulls sale of Reed & Mackay; focus on growing US business

It would appear the sale of Reed & Mackay, the corporate travel agent favoured by some of the City's most prestigious firms, has been called off.

I'm hearing from good sources ECI Partners, the private equity firm that owns Reed & Mackay, has pulled the auction after appointing bankers from NM Rothschild to run a sale process to raise £100 million.

Here are links to some of previous Betaville posts on the topic:

http://betaville123.blogspot.co.uk/2015/05/reed-mackay-said-to-have-hired-nm.html

http://betaville123.blogspot.co.uk/2015/07/a-reed-mackay-update.html

According to my moles, ECI is said to have told bidders that it decided to keep hold of Reed & Mackay to focus on growing its US business, where it believes it can increase "value".
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